SR Technics and Vietjet Air sign a Memorandum of Understanding worth US$150 million
SR Technics, a world leading MRO service provider, has signed a non-binding memorandum of understanding (MOU) between Malta Enterprise and Malta Industrial Parks Limited in order to assess the possibility of expanding its current operations in Malta.
As part of the MOU, Malta Enterprise will assess the possibility of making land available at Malta International Airport for SR Technics to expand its facilities. SR Technics will assess the opportunity to enhance its current operations at Malta International Airport. The parties intend to conclude their assessments with an aim to sign the binding contracts later this year.
“We are excited to explore this new opportunity with Malta Enterprise and Malta Industrial Parks Limited to further develop our presence in Malta,” said SR Technics CEO Jeremy Remacha. “Malta offers an ideal location with a suitable business environment and a highly skilled workforce to deliver our operations. We are assessing a possibility to build a modern MRO facility which would allow us to significantly increase our capacity over the coming years.”
“SR Technics is today a significant contributor to the success of Malta’s aviation cluster” Malta Enterprise CEO Mario Galea stated. “This growth is underpinned by the quality and efficiency of the Maltese workers and by the positive business environment in Malta. We are very pleased that SR Technics has chosen Malta for exploring the possibility to invest in an ambitious expansion project. This is another testament that Malta and its people can deliver and enterprises here can prosper in an economy which is recording record growth every year”.
The SR Technics narrow-body aircraft maintenance center at Malta International Airport provides base and heavy maintenance services and cabin modifications, combining proven quality and technical excellence with advantageous commercial terms. The current service portfolio in Malta is focused on the maintenance of the Airbus A320 family and the Boeing 737NG. In cooperation with Aviation Cosmetics Malta, the company also provides Lease-End Transitioning Services for the Airbus A319, A320 and A321, offering flexible options for maintaining a modern fleet.